Definition of viatical settlement in English:
An arrangement whereby a person with a terminal illness sells their life insurance policy to a third party for less than its mature value, in order to benefit from the proceeds while alive.
- In a viatical settlement, a person with a terminal disease sells his or her life insurance policy at a discount from its face value in exchange for ready cash.
- The tax treatment of a viatical settlement is markedly different.
- While the ads for viatical settlement firms focused on impending death, those for drug companies focused on prolonging life - better living through science.
Definition of viatical settlement in:
- British & World English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Canada
Most popular in Australia